At 14.4% right now, food price inflation is somewhat lower than the 14.6% it was in November.The inflation rate for groceries has decreased for the second consecutive month this month. Based on most recent data, take-home groceries sales grew 7.6% in the 12 weeks leading up to December 25th, 2022. Sales reached a new record of £12.8 billion, and year-over-year growth in December was even greater at 9.4%, the best rate seen since February 2021.
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December saw a staggering £1.1 billion increase in monthly food sales over the same month last year, breaking the $12 billion barrier for the first time. Value sales are increasing dramatically, but rising supermarket prices rather than more people buying are the main drivers of this. All of the standard Christmas themes were represented in this tale. As an illustration, the value of mince pie sales climbed by 19%, yet the number of sales scarcely improved as all. Christmas pudding sales increased by 6% in regards to volume and 16% in terms of value. Some households stopped eating Brussels sprouts as their purchase percentage dropped from 48% to 45%.
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